Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

China must commit to battery recycling in electric vehicle boom - Greenpeace

Published 30/10/2020, 02:10
Updated 30/10/2020, 02:15
© Reuters. FILE PHOTO: Batteries for electric vehicles are manufactured at a factory in Dongguan

SHANGHAI (Reuters) - China needs to step up the recycling and repurposing of batteries for electric vehicles in order to ease supply strains and curb pollution and carbon emissions, environmental group Greenpeace said on Friday.

Though the deployment of electric vehicles is an important environmental initiative, the manufacturing of batteries is energy- and carbon-intensive and puts the supply of key raw materials like lithium and cobalt under severe strain, the group said in a research report.

"We're about to see a tidal wave of old EV batteries hit China," said Ada Kong, Greenpeace East Asia's senior programme manager. "How the government responds will have huge ramifications for Xi Jinping's 2060 carbon neutral commitment."

Greenpeace said 12.85 million tonnes of EV lithium-ion batteries will go offline worldwide between 2021 and 2030, while more than 10 million tonnes of lithium, cobalt, nickel and manganese will be mined for new batteries.

Repurposed batteries could be used as backup power systems for China's 5G stations or reused in shared e-bikes, and would save 63 million tonnes of carbon emissions from new battery manufacturing, it estimated.

It said total global demand for energy storage could be met by old EV batteries by 2030.

China, the world's biggest EV user and EV battery manufacturer, has launched its own battery recycling schemes to cope with the expected surge in utilisation, and is also implementing tracing systems that will track the entire lifespan of a battery from manufacturing to disposal.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.